Local economy vs Housing affordability
Durham County’s economy is growing steadily, with low unemployment (around 3.3% as of May 2025), rising wages, and expanding sectors in healthcare, education, and professional services. Real GDP reached approximately $41.6 billion in 2023—a 3.6% increase from the year prior—while the city’s median household income rose to $79,234. Average weekly wages now exceed $1,800, outpacing national averages. These figures reflect strong economic fundamentals, supported by a highly educated workforce and a robust tech and life sciences presence concentrated in and around Research Triangle Park.
Despite this economic strength, housing affordability remains a significant challenge for many Durham residents. The housing affordability index sits around 72—meaning median income households earn just 72% of what’s needed to afford a median-priced home, far below the affordability threshold of 100. Median home prices hover around $430,000, while average rents exceed $1,740/month. Nearly half of renters are cost-burdened, spending more than 30% of income on housing. Although Durham has over 8,500 apartment units under construction and a high vacancy rate (~12.3%), this new supply has not yet brought meaningful relief to housing costs, particularly for middle- and low-income households. The contrast between Durham’s economic prosperity and housing stress highlights growing inequality and underscores the need for inclusive housing strategies.
We support thoughtful development of mixed income housing to satisfy the needs of the local communities of all income levels. We believe Durham as a city needs to continue working to achieve these goals to ensure a livable city for all.
Despite this economic strength, housing affordability remains a significant challenge for many Durham residents. The housing affordability index sits around 72—meaning median income households earn just 72% of what’s needed to afford a median-priced home, far below the affordability threshold of 100. Median home prices hover around $430,000, while average rents exceed $1,740/month. Nearly half of renters are cost-burdened, spending more than 30% of income on housing. Although Durham has over 8,500 apartment units under construction and a high vacancy rate (~12.3%), this new supply has not yet brought meaningful relief to housing costs, particularly for middle- and low-income households. The contrast between Durham’s economic prosperity and housing stress highlights growing inequality and underscores the need for inclusive housing strategies.
We support thoughtful development of mixed income housing to satisfy the needs of the local communities of all income levels. We believe Durham as a city needs to continue working to achieve these goals to ensure a livable city for all.
